Tableware Market - In Depth Analysis, Product and Outlook, 2025

Posted by Ryan Shaw on October 25th, 2019

The global Tableware Market size is expected to reach USD 60.4 billion by 2025, as per the new report by Grand View Research, Inc., expanding at a CAGR of 6.0% over the forecast period. Increasing number of households, changing lifestyle, and rising disposable income of the consumers are the prominent factors fuelling the market growth.

The metalware segment dominated the market in 2018 and accounted for 33.6% share of the overall revenue. The growth is attributed to its high usage in developing countries such as India and china in both the residential as well as commercial sectors. Ceramicware is anticipated to witness significant growth in the coming years due to its rising demand, which is attributed to increasing disposable income and changing lifestyle of the young consumer groups.

The offline distribution channel accounted for the largest share of 83.0%. Being a traditional way of shopping and consumer preference for offline shopping due to presence of leading market players such as Inter Ikea Group and homecentre are the leading factors driving the segment.

The online channel is the fastest growing segment in the market. It is expected to expand at a CAGR of 7.5% in the forecast period. Increasing number of young consumer groups, hectic work schedules, and growing preference for online shopping due to less time and easy accessibility are impelling the segment growth.

Europe accounted for the largest share of 35.0% in 2018. Frequent changes in lifestyle and presence of high income and elite consumer groups are the key factors driving the market in this region. Asia Pacific is expected to emerge as the fastest growing regional tableware market with a CAGR of 6.8% in the forecast period. The growth is attributed to rapid increase in urbanisation, shifting inclination towards western lifestyle, and increasing disposable income. 

Browse Details of Report @
https://www.grandviewresearch.com/industry-analysis/tableware-market

Further key finding from the study suggests:

• By product, ceramicware is projected to ascend at a CAGR of 6.2% over the forecast period
• The offline segment is the most preferred distribution channel in the tableware market and the segment accounted for 83.0% share of the overall revenue in 2018
• Asia Pacific is the fastest growing region with a CAGR of 6.8% due to growing urbanization and increasing number of households.